Tessera Defense issues 5,332,617 restricted shares to Mandragola in cashless warrant exercises
HLSQ•Tessera Defense and Homeland Security issued 5,332,617 restricted common shares to Mandragola from October 20 to October 23, 2026, through cashless exercises of a five-year warrant. After the issuances, 25,995,794 common shares were outstanding.
1. Warrant exercises
Tessera Defense and Homeland Security issued 5,332,617 restricted common shares to Mandragola in three tranches between October 20 and October 23, 2026. The shares were issued through cashless exercises of portions of a five-year warrant granted April 13, 2026, in connection with the acquisition of a 60% interest in Dr. Frucht Systems.
2. Ownership limits
The warrant has an adjusted $0.10 share-price floor for cashless exercises. Mandragola’s beneficial ownership, including affiliates, cannot exceed 9.99% following exercise. Common shares outstanding totaled 25,995,794 as of October 23, 2026.
